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New report accuses fossil fuel companies of greenwashing, but profits are up

Isaac Hanson7-8 minutes 5/4/2024

A new report by the Senate Committee on the Budget details how fossil fuel companies have avoided tackling the climate crisis.

Aerial view of Shell Pernis in Rotterdam, Holland, taken 7 September 2023. Photo: Aerovista Luchtfotografie/Shutterstock.

Last week, US Democrats released a report three years in the making detailing the ways that large fossil fuel producers including Shell, BP and Exxon have sought to avoid responsibility for the climate crisis.

The 65 page-long report, jointly authored by the Democrats House Committee On Oversight And Accountability and the Senate Committee on the Budget, contains files subpoenaed from big oil companies that “demonstrate for the first time that fossil fuel companies internally do not dispute that they have understood since at least the 1960s that burning fossil fuels causes climate change and then worked for decades to undermine public understanding of this fact and to deny the underlying science”.

Previous documentation has shown that companies including Exxon knew about human-made climate change since at least 1981, and files released earlier this year suggest it may have been known since the 1950s. The importance of this report lies in proving that fossil fuel companies not only knew, but privately believed the science despite public rejection.

The files also show the tactics used by major fossil companies to discredit climate activism, the report says, among them “pivot[ing] from outright climate denial to a new strategy of deception. Instead of misrepresenting the science and the consequences of climate change, they pivoted to misrepresenting their business plans, their investments in low carbon technologies, the alleged safety of natural gas, and their support for various climate policies and emission reduction targets”.

Net zero?

Most major oil companies have made net zero pledges based on the Paris Agreement goal of net zero by 2050, but the report claims they are unlikely to be met. BP, for instance pledged to reach net zero on oil and gas by 2050, but is at the same time ramping up oil production.

See Also:

• How realistic is a global fossil fuels tax to aid the green transition?
• The science behind forest carbon credits is sound, finds new study

The New York Times reported earlier this year that BP’s interim CEO Murray Auchincloss was clear that it would pursue an increase in fossil fuel production to meet demand, and internal documents gathered by the committees show that it was unwilling to publicly state a commitment to net zero in 2019.